Welcome to my Drexel Code Review.
Drexel Code is an Auto trading binary options platform developed by president and CEO Cory Drexel, who claims to have never lost a trade for the past 3 years, with a staggering $50m profits from last year alone. This is unrealistic and makes me think this might be a scam.
From the homepage were welcome by an introduction to Cory, who goes on to explain how bad things got between 2007-09 as a result of the Dow Jones drop and housing markets collapsing. He then explains that he decided to take matters into his own hands and develop a piece of software which would make him money consistently.
Together with a group of programmers and coders, Clay started working on a Beta platform. During the testing phase, the Drexel Code produced around 95% success rates, which to most people would be more than good enough, but to Cory Drexel, it still wasn’t enough.
So they fine-tuned the software and have managed to get up to a 100% success rates and have been doing for 3 years now.
During the video were introduce to 2 beta testers, (there may be more, I got bored of watching the video) who between them won over $250,000 and were presented with an oversized check. Nothing new here really. Promises of riches and fancy cars in your face. Its all hype and none of it is actual proof that they make money with this software.
Upon registering for the DREXEL Code software, we were automatically registered to a broker. In this case we were signed up with RBOptions. Unfortunately the software wouldn’t let me check out the broker trading platform before depositing.
Drexel Code’s dashboard offers you 2 options, Auto Trade, or signals you can trade manually.
Activating auto trade with Drexel Code gives you 2 more options. First option is your level of risk you would like to take, and this refers to the amount of trades the software will place for you at any given time. You have the options of 1 trade for low risk, 3 trades for medium risk and 5 trades for high risk.
Your second option is your trade amount, which determines how much money Drexel Code places on each trade. So if you selected High Risk trade with $25 trade amount, you would be investing $125 in total. If all 5 trades are in the money, you would stand to win around $105 plus your initial investment.
The manual signals section offer Currencies, Commodities, Indices, and Stocks. This section looks good, as you have a good amount of signals available across all available assets. All you need to do here is select your trade amount, and press “Trade Now” and the signal is traded for you, no need to worry about expiry times, Drexel Code does all that for you.
Drexel Code also have a good looking live chart within the software, and by clicking on any of the signals in the manual section will display the charts for this particular asset. These came in handy in comparing the signal with the market activity. I was quite surprised to see the charts actually following what the signals were predicting.
Overall the Drexel Code looks like a scam. Most auto trade systems are designed to take the control away from you, which is one of the main reasons novice traders tend to use them.
They only problem with auto trade is they can be very successful, or absolutely useless, and you have no understanding of why they get those results in any case. in this case, its all far too unbelievable to be true.
Taking the time to learn how to trade manually first can give you a massive advantage. Ideally you should have a good idea of how market data can impact the markets, and therefore your trades. A basic understand in this area will help you identify trading opportunities using manual or aute systems.
One of the industry’s top training providers OptionXpert offer great deals for training, including daily live webinars hosted twice a day, to tailored 1-2-1 training course for personal coaching. OptionXpert have been providing support for binary options traders for over 4 years, and have released their own trading platform called TrendXpert. TrendXpert is ram packed full of tools and features to help you learn how to trade for yourself. The TrendXpert and OptionXpert team uses a method of trading called “Spreading”. The Spreading Method was designed to minimize risks, by creating multiple strike points in the trade giving yourself a much wide ITM zone. This helps to avoid small fluctuations in the markets at the expiry times which would normally result in a losing trade.